One stock — $AAPL — is now worth more than the entire long-end US Treasury market.
Apple market cap: $4.62T
US Treasuries 10yr+: $4.37T
Think about that. A single company outweighs the deepest, most liquid safe asset class that underpins global finance. The equity bubble is so extreme that one tech name has more weight in portfolios than all long-duration sovereign debt combined.
This is what happens when rates stay suppressed for over a decade and everyone chases growth at any price. When the unwind comes, it won't be orderly.
Apple market cap: $4.62T
US Treasuries 10yr+: $4.37T
Think about that. A single company outweighs the deepest, most liquid safe asset class that underpins global finance. The equity bubble is so extreme that one tech name has more weight in portfolios than all long-duration sovereign debt combined.
This is what happens when rates stay suppressed for over a decade and everyone chases growth at any price. When the unwind comes, it won't be orderly.